Texas Pacific Land Corporation $TPL Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Texas Pacific Land Corporation (NYSE:TPL) by 3.9% in the second quarter, HoldingsChannel.com reports. The firm owned 605,760 shares of the financial services provider’s stock after acquiring an additional 22,796 shares during the quarter. Geode Capital Management LLC’s holdings in Texas Pacific Land were worth $648,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Texas Pacific Land by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock worth $3,267,588,000 after buying an additional 115,743 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Texas Pacific Land by 1,104.4% during the 2nd quarter. TD Asset Management Inc now owns 96,123 shares of the financial services provider’s stock worth $101,543,000 after purchasing an additional 88,142 shares in the last quarter. Nuveen LLC acquired a new position in shares of Texas Pacific Land during the 1st quarter worth approximately $68,518,000. CW Advisors LLC purchased a new stake in Texas Pacific Land in the 1st quarter valued at approximately $31,919,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Texas Pacific Land by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,999 shares of the financial services provider’s stock valued at $120,573,000 after buying an additional 17,066 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

TPL stock opened at $1,025.41 on Friday. The company has a 50 day moving average price of $938.07 and a two-hundred day moving average price of $1,028.66. The stock has a market capitalization of $23.56 billion, a P/E ratio of 51.12 and a beta of 1.12. Texas Pacific Land Corporation has a one year low of $845.56 and a one year high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.77 by ($0.50). The business had revenue of $203.10 million for the quarter, compared to analyst estimates of $175.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $1.60 dividend. The ex-dividend date is Monday, December 1st. This represents a $6.40 annualized dividend and a yield of 0.6%. Texas Pacific Land’s payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TPL. Tudor Pickering raised Texas Pacific Land to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Insider Activity at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 100 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were acquired at an average cost of $881.27 per share, for a total transaction of $88,127.00. Following the acquisition, the director directly owned 393,600 shares in the company, valued at approximately $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.90% of the stock is currently owned by corporate insiders.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.